How to Create a Budget

Purpose - Budgets are a planning tool to help LifeSpring achieve its short and long-term objectives. 


What is a budget? - A budget is a financial “road map” for the coming year or the plan of allocating resources toward goals by expressing the church's dream in dollars.


Tips 

  • Learn From the Past - A great starting place is to review last year’s programs…what worked, what didn’t work?  What buckets do we need to change?  What do we need to add?  What do we need to subtract?
  • Make it Clear & Concise – It doesn’t need to be an elaborate spreadsheet with every detail explained.  Make sure your audience can understand it and there is enough information for you to track it in the future.
  • Make it Correct – Please use care and verification as you are estimating budget amounts.  When you do your estimates, research the cost.  Remember to take into account all the different aspects of the event or program such as materials, marketing, transportation, decor, supplies, etc.
  • Make it Complete – Ensure you have included all expenses for your plans.  To be safe, either include a line for miscellaneous spending or round your numbers up to cover hidden costs.


Creating a Budget


  • Step One: Develop goals for each area of ministry - Each area of ministry should determine the goals for the following year, including the stretch goals. These goals should align with overall vision of the church (Joining God in Restoring a Broken World).  These should be developed through a prayerful consideration of what God desires the church to accomplish within the particular program. 


  • Step Two: Each ministry should formulate a budget for their ministry goals - Once a ministry team has identified the goals for their programs, they should then determine the specific costs that will be involved in accomplishing them and fill out the template. 


Example – Below is a simple example that can be used for guidance.


Goal - Blessing the children & teachers of the community with essential tools needed to thrive at Harrison Elementary.  Stretch Goal - Blessing the children of the community with essential tools needed to thrive at the Junior High School.